A sharp shift in sentiment is unfolding right now on the Shiba Inu (SHIB) market, as large holders interrupt a months-long trend of asset accumulation and urgently return tokens to centralized exchanges.
While the crypto community continues to debate the timing of a full-scale altcoin season at the end of June 2026, on-chain platform CryptoQuant is recording that the Exchange Reserve indicator, which reflects the total volume of coins held in exchange wallets, has made a vertical jump in just a few days and recovered to 80.5 trillion SHIB.
The expansion of available supply found immediate reflection in the meme coin’s value, as against the backdrop of continued liquidity inflows into exchange order books, SHIB’s price fell toward the local level of $0.0000044, turning buyers’ recent optimism into a tough battle to hold key price positions at the end of Q2 2026.
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The dynamics of capital movement point to local panic among investors, forcing many to reconsider their long-term targets right now. For a long time, the market was dominated by a HODL strategy — coins were steadily withdrawn to non-custodial cold wallets, which gradually reduced selling pressure and created the illusion of a supply shortage.
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However, over the past 24 hours, the situation has changed 180 degrees, as the fear of missing out on profit has been replaced by the desire to preserve remaining capital. According to the latest Netflow charts, the daily net inflow of tokens to exchanges, calculated as Inflow minus Outflow, has moved into positive territory and stands at 749.8 billion SHIB.
The scale of the maneuver is also confirmed by the gross inflow metric, which reflects the real speed of holder capitulation during these hours. In just 24 hours, investors have transferred around 1.04 trillion SHIB to exchange addresses — almost 6.5 times higher than the previous day’s deposit volume, indicating that the selling gates are opening almost simultaneously across all key platforms.
Why SHIB price could face more downward pressure
A spike in exchange reserves alongside a price decline is a classic bearish signal for the spot market, confirming that distribution, or selling, is prevailing over accumulation at this moment.
Judging by the on-chain picture, large players prefer to temporarily abandon long-term holding of the Shiba Inu coin and are moving volumes to trading platforms in order to lock in profits or hedge against the risks of a further market decline.
This kind of prolonged supply overhang could freeze any attempts by bulls to recover their previous positions for weeks, turning the recent upward impulse of late June into a prolonged defensive phase.